This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
US Steel Union Reiterates Opposition to Nippon Steel
April 23, 2025
The United Steelworkers union has reiterated its strong opposition to Nippon Steel’s $15bn bid to acquire US Steel, citing national security and economic concerns. In a letter to Treasury Secretary Scott Bessent, union president David McCall criticized the proposed deal and said no assurances had addressed their issues. He highlighted Nippon’s ties to China and a 205% tariff rate recently imposed by the US on Nippon. McCall also warned of potential divestitures and lack of commitment to US production. While former President Biden blocked the deal, President Trump suggested a minority stake might be acceptable pending further review.
US Steel’s dollar bonds were trading marginally lower with its 6.875% 2029s down at 99.88, yielding 6.9%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.